President Yoon: "Boldly invest R&D budget where needed... Will significantly increase"

SBS D Forum Releases Interview Video with President Yoon
Focus on Summit Diplomacy and Overseas Market Expansion

President Yoon Suk-yeol stated on the 2nd regarding the controversy over the reduction in the research and development (R&D) budget, "We will boldly invest in truly necessary fields, and I plan to significantly increase the R&D budget during my term." Although the R&D budget was reduced for the first time this year, the adjustment was made to ensure that funds are actually invested in R&D rather than just serving as allowance supplements, and there is a plan to increase the budget in the future.

In a dialogue video released at the 'SBS D Forum' (SDF) on the same day, President Yoon said, "It is extremely urgent to invest strategically and proactively in fields that must be invested in to create future growth engines."

[Image source=Yonhap News]

President Yoon also mentioned criticisms that although the R&D budget increased from 20 trillion won to 30 trillion won over three years starting in 2019, it was insufficient in creating growth momentum. He said, "For example, if researchers are given 30 million won annually each, that amount of 2 to 3 million won per month is only a concept of allowance support." This implies that the R&D budget should be used faithfully according to its categories and purposes.

President Yoon emphasized, "For basic and foundational technologies or cutting-edge technologies that are difficult to commercialize within a few years in companies, the government must proactively invest financially because we cannot just leave them alone. This is financial R&D." He added, "Although we restructured the R&D budget for the first time, we will boldly invest in truly necessary fields."

Additionally, regarding measures to resolve side effects from the development of artificial intelligence (AI) and digital norms, President Yoon stated, "AI digital technology should be used to expand freedom and democracy, not to damage or oppress them." He explained, "It is difficult to regulate with the norms of just one country, so I have long proposed several times the establishment of a UN-affiliated organization."

President Yoon continued, "Recently, I went to New York and discussed this stance with the UN Secretary-General, recommended Korean experts as advisory members, and was recently informed that the UN decided to appoint Korean experts."

On the 2nd (local time), President Yoon is scheduled to participate via video conference in the '1st AI Safety Summit' held in the United Kingdom, invited by UK Prime Minister Rishi Sunak, to discuss cooperation measures for the 'safe use of AI' with leaders from various countries.

Regarding the outcomes of his visits to Saudi Arabia and Qatar, he said, "Summit diplomacy focuses entirely on cooperation between our companies and pioneering overseas markets, centering on economic issues." He added, "If a country does not consider us hostile, through such summits, we must strengthen the strategic foundation so that our companies can find channels to cooperate with companies in the counterpart country."

On responding to the US-China hegemonic competition and international conflicts, President Yoon said, "As a global pivotal state, we are expanding our diplomatic horizon and increasing responsible contributions and roles in the Indo-Pacific region and the global community." He added, "Based on this, the Korea-US relationship is solidifying the alliance, and through the trilateral cooperation of Korea, the US, and Japan, we are strengthening security and economic cooperation."

Regarding supply chain risks caused by international conflicts, he explained, "Through all-direction diplomacy in the Middle East, Central Asia, Eastern Europe, and Africa, we have focused on supply chains and security." He added, "Managing supply chain risks is ultimately done by companies, but it is possible when the state creates a strategic framework, continuously holds strategic dialogues with counterpart countries, and establishes platforms."

This content was produced with the assistance of AI translation services.